Lifetime Citizen Portal Access — AI Briefings, Alerts & Unlimited Follows
Treasury highlights $69.3M in unclaimed returns, new CEA portal and $19.4B in investments
Loading...
Summary
Treasury staff told the committee the Unclaimed Property Division returned $69.3 million in FY25, the investment division manages roughly $19.4 billion in state funds, and a new online CEA portal has increased completion and transparency for cooperative endeavor agreements.
Chaz Nicholson (Fiscal Services) and Rachel Kincaid (First Assistant State Treasurer) presented Treasury’s FY‑27 materials to the Senate Finance Committee, highlighting investment results, unclaimed property returns and new technology to manage cooperative endeavor agreements (CEAs).
Kincaid said Treasury’s investment division managed roughly $19.4 billion in cost value and $19.9 billion market value across state funds; the General Fund portfolio finished FY25 with about $15.6 billion in invested balances. She said those portfolios generated hundreds of millions in earnings and that the trust and targeted funds are managed to different risk and horizon profiles.
On unclaimed property, Kincaid said Treasury returned $69.3 million to Louisiana residents in FY25, one of the largest totals in state history, and described a new ACH option for claimants that Treasury expects to be more efficient and cheaper than issuing paper checks. “It’s actually 40% less to do that,” she said of ACH versus checks.
Kincaid also described a new online CEA portal (launched Sept. 22) that allows users to submit information, monitor status and communicate directly with staff. Treasury said the portal increased completed CEAs by roughly 75% and distribution payments by about 41% versus the previous year, and that the tool supports statutory transparency requirements.
Committee members asked about fees, the composition of investment portfolios and the administration of statutory dedication accounts. Treasury staff explained that about $13 billion of the total represents General Fund investments under daily management and that trust funds add to the $19.4 billion total. The presenters said large portfolios are managed principally in‑house with limited externally managed equity allocations through funds like Vanguard where appropriate.
The committee did not take any binding actions; Treasury pledged to provide additional numerical detail on request.
